Risk is rising as big tech companies like Oracle — the ultimate financial source of the Ellison media empire — need to turn to the bond market for staggering sums to finance data centers.
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Looks like the bubble is about to burst, oof
Fun fact, over half of the S&P 500 have market caps over 10x revenue.
This has not ended well for companies in the past.
::: capitalism ::: is running on borrowed money.
Is it borrowed money or is it actually fictional non-existent money?
Kind of an odd phrase, given that money as a concept is fundamentally both of those things at all times.
You know what? That’s completely fair. We made it up, like the easter bunny.
The easter bunny made up money too?
WHAT? eastern bunnies are made up? you cannot just drop that on a innocent stranger?!
Oops. I-i mean San- nope. I - pay me no attention I’m just a crazy person on the Internet.
I think it’s both. They borrowed money on the future of AI.
Don’t worry, it will be real money when you have to pay your part.
Or is it money that has now been turned into fictional non-existent money, because it was stolen from our own future, where it was previously being held (we thought) safely in trust for us. They’re stealing the money from us. From our taxes, from our government funds and institutions, from our pensions. It’s our money. At least it nominally was, before all this happened. We’re being looted. The robbers are in our vault, they are packing our money into bags labelled “AI” as we speak.
What’s cool is we’ll soon be propping these shitbags up with tax money, so the whole thing doesn’t go bankrupt.
You mean we’ll be in the streets when they try to right? Because just being defeatist about it is an absolute pathetic take.
No worries, it’s only American tax payers footing the bill and they voted for this.
People in the rest of the world will also be affected for at least two reasons:
- Pension funds throughout the world is invested in US big tech, and if these companies fall in value, so will their pensions.
- A financial crisis caused by US big tech could cause a US recession which will also damage the economies of the rest of the world.
As I’ve pointed out elsewhere pension funds may be exposed to AI but the money in your personal fund doesn’t need to be. If you haven’t already moved your retirement investment out of shares then see if that’s possible. I’ve changed mine to conservative settings already and looking at the list its mainly in cash, property, farming and a few manufacturers now with no tech stocks at all. That seems a sensible mix for when the market collapses this time around.
You can make a change like this? Wow, I’ll have to look into if my fund can do this
Too big to fail. Privatize the profits, socialize the losses. Unless we can vote in enough representatives that won’t put up with that absolute bullshit.
We can also mobilize, and get very armed as a deterrent to illegal violence towards protestors.
The entire world is running on borrowed money
Which means someone is out there collecting the interest cost of all that magic money…
Guess who it is!
Satan. Capitalisms biggest fan, next to right wing christians
Hey, Satan got shafted. They asked some questions about the status quo, felt the hereditary monarchy was unfair, led a popular protest, and got exiled as a result. No more anti-Satan Jehovan propoganda.
Depends on if you look at the character from a Christian point of view, or as an outsider. Because from a objective point of view, he looks like the good guy in the bible. I was just telling my point from their point of view
Yeah, that title doesn’t make any sense. Do they mean AI companies are moving from equity to debt financing? I can’t get to the article (paywalled).
Credit is a huge part of the advancement of civilization. The “one treat now vs. five treats later” test is used as a measure of intelligence for a reason.
It’s used as a test of basic intelligence, but it’s also seriously incomplete and maybe a test of more advanced intelligence would be to have someone explain at least some of the many ways in which it’s incomplete.
If I told you to let me have your 5 treats later so that I can turn them into more treats than there are particles in the entire universe and I’ll give you half, you should probably call bullshit on that.
If I’m starving to death and I’m not going to survive until however much “later” is unless I eat one of those treats right now, then choosing “five treats later” would actually be the wrong choice.
This is not always a clear choice, either. The test is interesting, and it tells you a lot about how certain people think, but it isn’t universal, and it doesn’t actually prove anything. You need to understand and interpret why the answer makes sense in each context. And the context is always changing. We live on a changing planet. It is time to start thinking about how the context of “5 treats later” might have changed, and whether we are going to survive until whenever “later” is, and whether it is actually physically possible to provide all of those 5 treats in the hypothetical future that we are imagining.
Borrowed money, creative accounting, stolen data.
If we’re counting training material and the environmental cost they’re passing onto everyone else, also stolen money.
Tech executives stuffing suitcases with the cash of average families pensions and 401k funds before saluting and running out the back door for their new mega yacht moored in the cayman islands.
Soon it will be running on tax dollars. That’s the only way this ends.
It really doesn’t have to end that way. Those shithead rich who threw their money into this can just take the L, and not beg for a bailout.
Yeah… Sure. Except that’s not how capitalism actually works. See capitalism is just socialism for the rich.
Ok… but we can take action to make sure they dont just get a bailout for being the failures that they are.
What do you suggest?
Are you armed? If the answer is no, there is an action you can take. Learning to safely use and store firearms takes time.
Having a labor force with the means to defend itself as a deterrent is incredibly important.
National security and such
So it’s being acknowledged in the mainstream news now. That’s going to be a bumpy ride in quarter 4.
🔥🍿
